India Set to Be World’s 3rd Largest Economy Soon, Says PM Modi
PM Modi highlights India's rapid rise amid global uncertainty.
Prime Minister Narendra Modi on Sunday asserted that India is firmly on the fast track to becoming the world's third largest economy, driven by robust macro-economic stability, controlled inflation, and strong global confidence. Speaking at the Vibrant Gujarat Regional Conference in Rajkot, he contrasted India's steady progress with the economic and political turmoil faced by several neighbouring countries.
Modi described India as the world's fastest-growing major economy, noting that international expectations are steadily rising. He pointed to the nation's impressive achievements, including its position as the largest milk producer globally, leader in generic medicines and vaccines, biggest consumer of mobile data, top performer in digital payments through UPI, second-largest mobile manufacturer, and a top-three player in both solar power and aviation sectors.
The Prime Minister emphasised that these milestones have generated strong bullish sentiment among global institutions. He highlighted the International Monetary Fund's recognition of India as the engine of global growth, S&P's rare credit rating upgrade after 18 years, and Fitch's praise for the country's macro stability and fiscal credibility.
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Modi underscored that in an era of widespread global uncertainty, India stands out for its predictability, political stability, and expanding middle-class purchasing power. These factors, he stated, provide a unique sense of certainty that sets the country apart from many others and makes it an attractive destination for investment and growth.
Addressing investors directly, the Prime Minister reinforced that India's combination of economic strength, governance consistency, and rising consumer demand positions it as a reliable and high-potential market amid turbulent times worldwide. He expressed confidence that these strengths will propel India to its ambitious economic ranking in the coming years.
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